(A) A person may not engage in the business of money transmission or advertise, solicit, or hold himself out as providing money transmission unless the person is:
(1) licensed under this chapter or approved to engage in money transmission pursuant to Section 35-11-210;
(2) an authorized delegate of a person licensed pursuant to this article; or
(3) an authorized delegate of a person approved to engage in money transmission pursuant to Section 35-11-210.
(B) A license issued pursuant to this chapter is not transferable or assignable.
HISTORY: 2016 Act No. 266 (H.4554), Section 1, eff May 25, 2018.